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Monday Papers: May races to revive Brexit plan

Monday Papers: May races to revive Brexit plan

Top stories

  • Financial Times: Theresa May is racing to revive her Brexit plan ahead of a crucial cabinet meeting on Tuesday as Brussels pushes for environment targets and state aid oversight as part of exit deal.
  • The Daily Telegraph: Hedge funds have amassed a £1.4 billion bet against high street stores, such as Pets at Home, Marks & Spencer and Debenhams, as economists warn that a crucial Christmas period will hinge on a Brexit deal.
  • The Times: A pair of British technology “unicorns”, Revolut and Oaknorth, could be the next investments for Softbank’s $100 billion Vision Fund.
  • Financial Times: The world’s biggest energy companies are spending only a fraction of their investment budgets on green projects; European companies are among biggest investors while China and Russia trail.

Business and economics

  • The Times: Azzurri Group, which owns the Ask Italian, Zizzi and Coco di Mama chains, has reported an 8.5% increase in the year to 1 July on the back of 15 openings and like-for-like growth across its brands.
  • The Guardian: Increasing number of businesses going bust and closing stores on the British high streets has wiped off up to 85,000 retail jobs.
  • The Daily Telegraph: Red Kite, which was co-founded by Tory donor Michael Farmer in 2005 and is one of the biggest metals traders in the world, has closed its Tamarisk Fund seven years after it was set up.
  • The Times: International Airlines Group has asked for Madrid’s help in its campaign to retain its operating rights should Britain crash out of the European Union without a deal.
  • Daily Mail: British firms signed deals worth more than £2 billion with Chinese businesses at the China International Import Expo in Shanghai last week.
  • The Daily Telegraph: The Cambridge chip designer Arm is pushing to meet ambitious targets of doubling its UK headcount by 2021 even as it eases up its investment in research and development after two years of rapid growth.
  • The Daily Telegraph: Internet giant Alibaba has registered a record $30.7 billion in sales at the 10th annual Chinese shopping bonanza Singles’ Day.
  • Financial Times: The world’s insurers have received more than $9 billion in claims in the past few months due to the recent spate of storms, hurricanes and typhoons.
  • The Guardian: Supermarkets, retailers and major drinks brands are set to shell out millions of pounds more towards recycling their used packaging under new government rules expected to be published this month.
  • Financial Times: BT’s international business is intending to shed more than 80% of its customers as part of its attempts to shake off accounting scandal uncovered at BT Italia in 2016.
  • The Times: Beefed-up European Union data protection laws are crippling merger deals, a report by Merrill Corporation, a data consultancy, has warned, as specialists blame the rules for an increase in failed transactions.
  • Financial Times: The UK’s financial watchdog has decided to drop its criminal probe against Credit Suisse over the $2 billion “tuna bond” scandal in Mozambique.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): AVOID IP Group.
  • The Times: Roksanda, a luxury fashion label favoured by the Duchess of Cambridge and Michelle Obama, is seeking a new investor in a deal expected to value the company at about £20 million.
  • Financial Times: Ford is open to working with rivals to expand self-driving services internationally, Sherif Marakby, CEO of Ford Autonomous Vehicles, said.
  • The Daily Telegraph (Comment): The economic impact of the First World War should be remembered.

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